In Missouri, Managers of a limited liability company owe fiduciary duties to the company itself. Hibbs v. Berger, 430 SW.3d 296, 315 (Mo. Ct. App. 2014) (citing Section 347.088.2, RSMo). Indeed, a manager “has a duty to act in good faith and in the best interests of the limited liability company”). Sutherland v. Sutherland, 348…
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Member/Manager Fiduciary Duties in a Limited Liability Company (LLC)
A member and/or manager of a LLC is obligated by law to operate the LLC with the care a corporate officer of like position would exercise under similar circumstances, in the manner a reasonable person would believe to be in the best interest of the LLC. See Mo. Rev. Stat. 347.088.1. Further, a member and/or manager may…